- EUR/USD is prolonging the recovery from Friday’s lows in the 1.1620 region amidst a continuation of the selling mood around the greenback.
- The outlook remains offered as long as it trades below the short-term resistance line – today at 1.1732 – and July’s top at 1.1792.
- On the downside, the 21-day SMA at 1.1689 offers initial contention. This area is reinforced by the base of the daily cloud.
- Furthermore, EUR/USD could be carving a descending triangle.
Daily high: 1.1732
Daily low: 1.1700
Support Levels
S1: 1.1663
S2: 1.1619
S3: 1.1591
Resistance Levels
R1: 1.1735
R2: 1.1763
R3: 1.1807
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